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CS Executive · Tax Laws and Practice · Incomes which do not form part of Total Income

Under the Income-tax Act, 2025 (applicable from the June 2027 session), which provision lays down that income enumerated in Schedules II, III, IV, V and VI is excluded from total income, subject to the conditions specified in those Schedules?

Section 11(1) of the Income-tax Act, 2025 excludes from total income any income enumerated in Schedules II, III, IV, V and VI, provided the conditions specified in those Schedules are fulfilled. Sub-section (3) instead covers Schedule VII persons, and Section 12 covers political parties.

  1. ASection 11(1)Correct
  2. BSection 11(3)
  3. CSection 12(1)
  4. DSection 14(1)

Explanation

Section 11(1) provides that income enumerated in Schedules II to VI is not included in total income if the conditions are met. Section 11(3) deals with persons listed in Schedule VII who are not chargeable to tax. Section 12 covers political parties and electoral trusts, and Section 14 deals with expenditure disallowance.

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